Thanks to these lockdowns, some 40 million people are unemployed, some 40 million lives have been shattered; lines at food pantries seem to go on forever; countless small businesses are in danger of closing or already have… Nevertheless, what America’s oh-so compassionate Democrats dread most is a quick economic rebound that might undermine their grasping desire to hold on to and obtain power.
“The general election scenario that Democrats are dreading,” the Politico headline reads.
And what is that scenario?
“We are about to see the best economic data we’ve seen in the history of this country,” a former economic adviser to Barack Obama told a bunch of bigwigs from both parties last month.
His name is Jason Furman and Politico says he “laid out a detailed case for why the months preceding the November election could offer Trump the chance to brag — truthfully — about the most explosive monthly employment numbers and GDP growth ever.”
Furman’s counterintuitive pitch has caused some Democrats, especially Obama alumni, around Washington to panic. “This is my big worry,” said a former Obama White House official who is still close to the former president. Asked about the level of concern among top party officials, he said, “It’s high — high, high, high, high.”
And top policy officials on the Biden campaign are preparing for a fall economic debate that might look very different than the one predicted at the start of the pandemic in March. “They are very much aware of this,” said an informal adviser.
What Furman already sees are signs of what’s known as a “V” recovery, as a opposed to a slower or gradual recovery, or a recovery that takes a while to get back to where we were before these stupid lockdowns began. Furman sees an economy that’s already unleashed.
Consumption and hiring started to tick up “in gross terms, not in net terms,” Furman said, describing the phenomenon as a “partial rebound.” The bounce back “can be very very fast, because people go back to their original job, they get called back from furlough, you put the lights back on in your business. Given how many people were furloughed and how many businesses were closed you can get a big jump out of that. It will look like a V.”
Furman’s argument is not that different from the one made by White House economic advisers and Trump, who have predicted an explosive third quarter, and senior adviser Jared Kushner, who said in late April that “the hope is that by July the country’s really rocking again.”
White House officials were thrilled to hear that some of their views have been endorsed by prominent Democrats.
While no one expects the second quarter numbers — the numbers that will tell us the GDP between April 1 and June 30 — to be anything but terrible, if we can come to our senses nationwide and get these absurd lockdowns behind us, the third quarter numbers (that will be released at the end of September) could show real growth. This would be good for the incumbent president, especially since that incumbent president has been predicting a “pent up” desire within the American people to get back to normal.
Good news for America and Americans would, of course, be terrible news for Joe Biden, who is desperate to strangle our economy with record high taxes and an obscene amount of regulations. Biden’s policies would hurt a flourishing economy, but they would kill a post-lockdown recovery in the same way the Obama-Biden economic policies of 2009 killed any hope of a real rebound after the 2008 economic crash. It’s no accident the Obama-Biden administration oversaw the worst “recovery” since the Great Depression. Their taxes, regulations, and constant threats of more kept a boot firmly on the neck of our economy for eight long years.
Plus, no matter how much Biden might crybaby about Trump’s Twitter account, his golf game, and his violation of the establishment’s “precious norms,” the American people tend not to fire a president when the economy is humming — especially if we are coming out of a downturn.
But what does it say about Democrats that with nearly 40 million lives shattered, they “dread” a fast comeback for those 40 million people?
Obviously, that’s a rhetorical question, but it does answer the question as to why — and for no valid scientific or medical reasons, a number of mercenary Democrat governors are desperate to push these pointless lockdowns as far into next month as possible (especially in swing states like Wisconsin, Michigan, North Carolina, and Pennsylvania).
It is all about doing whatever damage they can to those third quarter GDP numbers; even if that means more pain for those who cannot work from home — primarily the working class.
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